TCS firms up on stellar Q3 results

TCS closed a Rs 799, stronger by Rs 7 or 0.9%, on the BSE.

The stock had opened at Rs 801 and touched a high of Rs 816 and a low of Rs 793 during the day.

A total of 6.07 crore shares were traded on the BSE as against the two-week average of 5.33 crore shares.

Tata Consultancy Services has moved up after beating market expectations by posting a 33 per rise in net profit as against consensus estimates of 20 per cent. The stock is trading at Rs 804, higher by Rs 12 or 1.6%, on the BSE. The stock opened at RS 801 and has touched a high of Rs 816 and a low of Rs 793 thus far.

India’s largest IT services provider's net profit soared to Rs 1,824 crore for the quarter ended December 31, 2009 compared to the same period a year ago. Its revenues, too, jumped 5.1 per cent on strong volumes of 6.6 per cent to touch Rs 7,649 crore on a year-on-year basis.

On a sequential (quarter-on-quarter) basis, TCS’ net profit rose 11.1 per cent, while revenue jumped 2.9 per cent. In dollar terms, TCS performed even better; revenue was up 10.3 per cent year-on-year and 6.3 per cent sequentially, while net profit rose 38.9 per cent year-on-year and 14.2 per cent quarter-on-quarter.